Digging The Economic Hole Deeper

Last month, President tried to give a "don't worry, be happy" pep talk on the economy [1], only to be confronted with an actual voter, and being forced to acknowledge the economic "storm clouds." [2]

Yesterday, in another economic speech, Bush was compelled to scale back the happy talk [3] -- admitting, "We confront economic challenges," while begrudgingly conceding, "recent economic indicators have become increasingly mixed."

Ya think?

Unsurprisingly, Bush offered the same conservative elixir that already has failed to improve the economy for middle-class and impoverished families: reckless tax cuts.

That's because the conservative movement is not interested in having our government play a role in strengthening our economy. They're interested in coming up with excuses for more tax cuts so they can hamstring our government from working for us.

Tax cuts can certainly have a role to play to cushion the blow of an oncoming recession -- if they are temporary and geared towards the people being pinched, or crushed, by the faltering economy.

But Washington conservatives are not interested in economically potent tax policies. They're won't acknowledge past failures and offer new ideas.

They're simply interested in more handouts to those who are wealthy enough to be shielded by economic downturns.

Bush already tried that [4]. It didn't lead to significant investment or employment growth. [5] It didn't help raise average family income [2]. It didn't fight poverty. [6]

Furthermore, the Bush conservatives antipathy to effective government prevented them from having a long-term public investment strategy: [1] investing in universal health care, renewable energy and quality education.

Such a strategy creates living-wage "green-collar" jobs, makes income go farther, and protects young adults from debilitating debt.

No tax cut can magically make those things happen, which is why none of that is happening now.

While Bush mouths the words "strong foundation" for our economy, the truth is without progressive investments, our foundations have weakened.

Reckless tax cutting did not create an economy that works for everyone. And it won't now.